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Author : My Dirty Little Bitcoin Secrets PDF EBook by Ofir Beigel
More than $676 million invested in Bitcoin startups through venture capital. 103 VC (venture capital) backed start-ups. At the time of writing this book the Bitcoin market cap is $3.4 billion, but this may change due to fluctuating exchange rates. 4 http://www.coindesk.com/state-of-bitcoin-q1-2015-record-investment-buoys-ecosystem/. You’ll notice that throughout this book I don’t talk much about Bitcoin’s price since I think it’s irrelevant. In order to create a successful Bitcoin business you need to make sure that there is a market for you product, in this case Bitcoin. And if the price goes up or down it doesn’t matter, there is still a market for Bitcoin. Even when the biggest Bitcoin exchange MTgox collapsed in 2014 it didn’t affect the rate of adoption for Bitcoin. There is a steady increase in the number Bitcoin wallets opened each year and even though the price may be lower than last year the adoption rate is still positive. The price decline has not stopped the exchange trading volume from trending up.
Finally, since the Bitcoin price has dropped but mining difficulty remained more or less the same, the incentive to mine Bitcoins has diminished and less people are dealing with home mining and mining is becoming more consolidated. Chapter 2.1: Using the Bitcoin protocol to disrupt industries worldwide. Bitcoin has certain rules, also known as the Bitcoin protocol, which makes it work. The ingenious part of Bitcoin is not necessarily the creation of the currency but rather the creation of the Bitcoin protocol. For the first time in history, technology makes it possible to transfer property rights (such as shares, certificates, digital money, etc.) in a fast, transparent and very secure way. Moreover, these transactions can take place without the involvement of a trusted intermediary such as a government, notary, or bank. Companies and governments are no longer needed as the “middle man” in all kinds of financial agreements. http://thenextweb.com/insider/2014/02/15/bitcoin-platform-currency/.
Using the Bitcoin protocol to create Bitcoin the currency is just one out of many uses you can have for this protocol. A lot of businesses are also forming around the idea of Bitcoin 2.0 - which means the decentralization of previously centralized businesses. Some examples for Bitcoin 2.0 projects are Etherum (a platform for decentralized apps) and Gems (a sort of decentralized social messenger). Creating a Bitcoin 2.0 project also requires technical knowhow since you’ll need to implement the Bitcoin protocol into other forms of assets. If we look ahead at what’s coming there are several business categories that may utilize the Bitcoin protocol to create new products: Email. Applications that eliminate spam by requesting a small amount of Bitcoin for every delivery. So for example let’s say a “normal” person sends out 100 emails a day (I know I went a bit overboard). If we request 10 Satoshis (the smallest amount of a Bitcoin available = 0.00000001BTC) for every email he sends he will need to pay 100 Satoshis daily or 360,500 Satoshis yearly.
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